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Home English Confindustria cuts 2019 GDP forecast to zero

Confindustria cuts 2019 GDP forecast to zero

Confindustria cuts 2019 GDP forecast to zero

(ANSA) - Rome, March 27 - The CSC research unit of industrial
employers' confederation Confindustria said Wednesday that it
has cut its forecast for Italy's GDP growth this year to zero.
In October the CSC had forecast the Italian economy would
grow by 0.9% in 2019.
The research unit cited a government budget that is "not very
orientated towards growth", an increase in the yields on Italian
State bonds and falling business confidence as factors in its
decision to cut its growth forecast.
Asked about the forecasts, Deputy Premier and Interior
Minister Matteo Salvini said "they will be glaringly denied by
the facts".
Salvini said Confindustria "is full of birds of ill omen.
They have always got it wrong in the past".
He added: "To our friends at Confindustria I say. 'let us
work'. I'm convinced that with the money we have put into
Italians' pockets there'll be a return to growth. Give us a
hand, we like proposals, not nay sayers".
The other deputy premier, Labour and Industry Minister Luigi
Di Maio, said "Confindustria's concerns are the same as ours".

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